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IBM results beat the market when released after US market close in a further boost for the tech sector..
https://www.cnbc.com/2022/01/24/ibm-earnings-q4-2021.html
A completely stunning turnaround in US markets. Ocado's US ADR listing indicates Ocado shares should open at 1406p tomorrow. Of course the markets will further change overnight but the overall market situation looks far better...
US markets looking better this evening - hopefully we will see a reversal of at least some of todays losses tomorrow.
Apologies for the typo, yes Ocados product launch is on Wednesday...
Wednesday, VP, not tomorrow.
Off a cliff! Over and out. Dun and dusted.
craig140583,
Brutal market conditions across the board today. IBM report earnings after US market close today. Microsoft report tomorrow, Tesla and Apple also report earnings this week. These earnings could give a boost or otherwise to the overall tech market. Fed meeting on Wednesday will be the key driver to overall markets this week.
As you say Ocado have a habit of overcoming the odds. I have personally followed Ocados every move for over 5 years. Listened to all the earnings calls, read all the press releases, seen all the interviews, media releases. Over that time Ocado have built a strong record on delivering on their promises and built a high level of trust.
Put simply personally if Ocado say they are to reveal some game changing technology for online grocery then I think that is what they will do tomorrow. I have no reason to think it will be an empty product launch full of hot air.
Overall market conditions as harsh as they are could of course still bring the Ocado share price down even if Weds is a good product launch.
Fingers crossed!
Any thoughts on market turn. The bears certainly have it at the moment. Ocado has a habit of coming up trumps in those battles though so if anyone can fight the tide its them I suppose.
All Ocado shareholders need to register their interest here in hearing about this Wednesdays news
https://events.bizzabo.com/ocado2022
(Nedre Vats, 24 January 2022) AutoStore Holdings Ltd. (AutoStore,
OSE:AUTO) continues all the patent infringement lawsuits that the AutoStore
Group filed in late 2020 against Ocado Group. These actions are in several
venues, including the U.S. International Trade Commission and the U.K. High
Court, and seek (among other remedies) injunctions barring the manufacture,
sale, and use of Ocado's infringing products in the U.S. and the U.K., as well
as monetary damages. Ocado itself has initiated litigation against AutoStore in
the U.S. and Germany, alongside oppositions in the European Patent Office.
We highlight recent positive developments for AutoStore in the European
litigation as follows:
· Last week, the European Patent Office upheld the validity of a key AutoStore
patent - the second in this patent family that the EPO has upheld - which is
part of our ongoing action in the U.K.
· We also sharpened our ongoing action in the U.K. proceedings to focus on three
particular patents, and we are in the midst of adding two more patents to the
suit. We took this action to further strengthen our patent infringement case
against Ocado.
· In proceedings before the Mannheim District Court last month, Ocado's request
for an injunction against AutoStore's Black Line robots, based on one of its
German utility models, was not granted. The Court considered that the Ocado
utility model was likely to be invalid and accordingly invited further
submissions from Ocado, pending a further hearing next month. Other proceedings
in relation to the Black Line range of robots are ongoing but will have no
commercial impact on AutoStore.
None of these legal developments affects the operations or success of our
growing global business. As the pioneer of cube storage automation, we have
secured hundreds of patents since our founding. As demonstrated by the launch of
the R5+ robot on the 13th January 2022, AutoStore continues to develop the next
generation of robots and solutions to remain the technology leader in this
space. AutoStore now has more than 770 systems in 40 countries, is represented
in a variety of industries, and our business continues to grow worldwide.
***
For additional information, please contact:
AutoStore Investor Relations:
Bent M. Skisaker, Chief Financial Officer
+47 46 82 16 93
bent.skisaker@autostoresystem.com
AutoStore Norwegian media:
Geir Bjørlo
+47 91 54 00 00
geir.bjorlo@corpcom.no
AutoStore International media:
Emma Schultz (USA)
+1 646 644 8095
AutoStore@brunswickgroup.com
Tim Danaher (UK)
+44 7515 916 216
AutoStore@brunswickgroup.com
Autostore released a RNS this morning re the Ocado court cases. Autostores shares are currently down 10% today. Continuing their steep fall since Ocado released their update re UK court cases v Autostore. Quite clear the market has very little belief in Autostore making meaningful progress in the legal cases v Ocado..
https://live.euronext.com/en/product/equities/BMG0670A1099-XOSL
Look for the RNS lower down in the above link..